Mr. Gurminder Sangha reports

FE BATTERY METALS DRILLS 1.05 PERCENT LITHIUM OXIDE OVER 8.75 METERS AT AUGUSTUS LITHIUM PROPERTY

FE Battery Metals Corp. has released results of drill hole LC23-88 from 2023 exploratory drill program at its Augustus lithium property in Quebec, Canada. The drill hole LC23-88 intersected three spodumene-bearing lithium pegmatites of variable widths and grades, including one intercept of 1.05 per cent lithium oxide (Li2O) over 8.75 metres at 90.25 m drilled depth. There are anomalous values of other rare metals such as beryllium, cesium, niobium, tantalum and rubidium (see attached table for details).

Highlights

The top (No. 1) pegmatite intersected 1.18 per cent Li2O over three m at 43.6 m drilled depth. There are anomalous values of other rare metals in this section with an average of 161 parts per million Be, 66.63 ppm Cs, 50.47 ppm Nb, 221.73 ppm Rb and 99.29 ppm Ta.

The middle (No. 2) pegmatite intersected 1.18 per cent Li2O over one m at 57 m drilled depth. There are anomalous values of other rare metals in this section with 227 ppm Be, 19.60 ppm Cs, 71.80 ppm Nb and 102 ppm Ta. Another one-metre section below this pegmatite intersected biotite schist rocks with 0.53 per cent Li2O, 1,920 ppm Cs and over 5,000 ppm rubidium.

The bottom (No. 3) pegmatite intersected 1.05 per cent Li2O over 8.75 m at 90.25 m drilled depth. Other rare metals in this section have anomalous values, with an average of 110.33 ppm Be, 49.78 ppm Cs, 83.60 ppm Nb, 1,358.67 ppm Rb and 75.20 ppm Ta.

Drill hole LC23-88 was drilled at location 5367788.33N, 287244.25E, UTM NAD 1983 zone 18N, at azimuth 227.42 degrees and dip minus 74.5 with a drilled depth of 183 m. The drill hole was placed at the main Augustus zone.

The drill program is based on the historical and current exploration data. The drill program was contracted to Forage Hebert Inc. of Amos, Que. A B-20 drill rig is deployed for this work. A core shack is built at the village of St-Dominique du Rosaire, located about 50 kilometres from the property, for drill core logging, sample preparation and storage. To date, a total of 89 drill holes with a cumulative diamond drilling of 16,607.64 m have been completed on the property. The drill core is logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks are being inserted at industry-standard intervals.

The samples were bagged and tagged using best practices and delivered to Activation Laboratories (Actlabs) in Ancaster, Ont., for sample preparation and analyses using laboratory code Ultratrace 7 and sodium peroxide (Na2O2) fusion, as summarized follows. Actlabs is an independent commercial, accredited ISO-certified (International Organization for Standardization) laboratory.

Code Ultratrace 7 -- Peroxide Fusion -- ICP and ICP/MS

Samples are fused with sodium peroxide in a zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.

ICP-MS

Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of 10 to 20 fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.

ICP-OES

Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure.

Afzaal Pirzada, PGeo, geological consultant of the company, and a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

Lastly, FE Battery Metals intends to grant two million restricted share units (RSUs) under the company's shareholder-approved restricted share unit plan to certain consultants and directors. The RSUs granted shall vest over eight months from the date of grant. Each RSU entitles the holder to receive one common share of the company.

Drill hole LC23-88 sample assays highlights are shown in the attached table.

Note: A standard conversion factor of 2.15 was used to report Li to Li2O values.

All intersections reported are based on drilled width and have not been converted to the true width.

We seek Safe Harbor.